Lesson #1: there are times when raising venture capital is a bad idea.Lesson # 2: there are times when it makes sense to raise venture capital.Lesson #3: raise your venture funding as late as possible.Lesson #4: pick your VCs well.Lesson #5: ask VCs about their firm’s “exit strategy”.Lesson #6: look for VCs who can and do distribute.Lesson #7: check VC references.Lesson #8: Choose VCs you’d trust with your own money.Lesson #9: use your VCs relentlessly.Lesson #10: push to speak to the Limited Partners.